Steel Dynamics (NASDAQ:STLD) Price Target Cut to $135.00 by Analysts at BMO Capital Markets

Steel Dynamics (NASDAQ:STLD) had its price target decreased by BMO Capital Markets from $140.00 to $135.00 in a report published on Tuesday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.

Other equities analysts have also recently issued research reports about the stock. Citigroup boosted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a buy rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an underweight rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group started coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They issued a hold rating and a $150.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $127.43.

Steel Dynamics Stock Down 1.2 %

Shares of NASDAQ:STLD opened at $125.00 on Tuesday. The firm has a fifty day moving average price of $132.99 and a two-hundred day moving average price of $128.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. Steel Dynamics has a one year low of $95.53 and a one year high of $151.34. The company has a market cap of $19.64 billion, a price-to-earnings ratio of 8.59 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.01 EPS. Analysts anticipate that Steel Dynamics will post 12.2 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the transaction, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Steel Dynamics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Atomi Financial Group Inc. boosted its stake in shares of Steel Dynamics by 3.1% in the first quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock valued at $395,000 after purchasing an additional 79 shares during the period. Greenfield Savings Bank raised its holdings in Steel Dynamics by 0.7% in the first quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock valued at $1,731,000 after acquiring an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Steel Dynamics by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 88 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Steel Dynamics by 19.2% in the first quarter. Global Retirement Partners LLC now owns 570 shares of the basic materials company’s stock valued at $84,000 after acquiring an additional 92 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Steel Dynamics by 0.9% during the fourth quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock worth $1,263,000 after purchasing an additional 93 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.